MORE THAN TWO HUNDRED STEEL CONSUMING
COMPANIES/ORGANIZATIONS SIGN LETTER TO PRESIDENT BUSH
URGING IMMEDIATE TERMINATION OF THE STEEL TARIFFS
Washington, DC: More than 200 companies
and organizations representing steel-consuming and related industries
from across the United States submitted a letter
today to President George W. Bush asking that the Section 201
steel tariffs “be terminated at the earliest opportunity.”
President Bush is expected to make a decision soon
regarding the future of the steel tariffs. The letter follows
the release of the International Trade Commission (ITC)’s
Section 332 study on the impact of the steel tariffs on steel-consuming
industries, which showed that the tariffs resulted in increased
prices, declines in availability and quality of steel, an increased
shift by customers to overseas sourcing, and a total loss to the
U. S. economy of $987.2 million.
Said William E. Gaskin, CITAC STF Chairman and
President of Precision Metalforming Association, “This letter
shows how the steel tariffs have truly energized and unified hundreds
of steel consuming companies and related industries to voice their
strong concern about the steel tariffs to President Bush. If ever
there was a time to speak up, it’s now, and that’s
exactly what we are doing. It’s time to look ahead and work
towards a manufacturing environment that’s steel tariff-free.”
The letter states, “After eighteen months
of the tariffs, it is clear that the steel industry has benefited
as much as possible from the imposition of the tariffs in March
2002. It is equally clear that steel-consuming industries and
their employees have suffered economic harm due to the tariffs.”
Referring to the nearly one quarter of steel-consuming
companies who reported to the ITC that their customers had shifted
purchasing finished parts or assemblies overseas as a result of
the steel tariffs, the letter states, “this is business
that has left the U.S. in only a few short months that the tariffs
have been in place – business likely never to return.”
The steel-consuming signatories emphasize that the
country needs a globally competitive steel industry, writing,
“This is also vital to many steel consumers in the United
States. The steel industry is in fact now in a stronger position
than it was 18 months ago, due to some consolidation and restructured
labor agreements. But America — and the American steel industry
— also need a strong and vibrant manufacturing sector. Eighteen
additional months of the steel tariffs will further harm steel-consuming
industries.”
“Steel is an important commodity. However,
it is a raw material that must be forged drawn, stamped or otherwise
formed into something…” the letter concludes. “This
equally critical work is performed by the nearly 13 million employees
in various steel-consuming industries. Those companies, and their
employees are urgently awaiting your decision on the steel tariffs
— a decision to terminate the tariffs can give them hope,
and offer a renewed chance to thrive.”
The letter is available here.
CITAC is a coalition of companies and organizations
committed to promoting a trade arena where U.S. consuming industries
have access to global markets for imports that enhance the international
competitiveness of American firms. The CITAC Steel Task Force
is comprised of steel consumers working to achieve the termination
of the 201 steel tariffs by mid-point review and reform U.S. trade
laws and policies to benefit U.S. steel consumers.
